15 grand strategies with examples

Resources for Papers 1 and 2

Watch the following video, which describes 15 grand strategies. These include, among others, Concentrated Growth, Product Development, Horizontal Integration, Vertical Integration, and Diversification:

Strategic Management: 15 Grand Strategies. (2012, March 1). Cal Miramar University. Podcast retrieved on April 29, 2014, from http://www.youtube.com/watch?v=llKFeqZvZis

The following is an excellent overview of the Grand Strategy Matrix. Note that organizations choose grand strategies using two key criteria: Market Growth and Competitive Position:

Grand Strategy Matrix. (2010). MBA Tutorials. Retrieved on April 29, 2014, from http://www.mba-tutorials.com/strategy/1145-grand-strategy-matrix.html

The following video shows how the Grand Strategy Matrix might be applied to a real-world organization – in this case, Pepsico:

Grand Strategy Matrix and Pepsico. (2011, April 24). Podcast retrieved on April 29, 2014, from http://www.youtube.com/watch?v=9M7zW4ajL2I

In the previous video, mention was made of the BCG Matrix. Review the following two sources as they relate to use of the BCG Matrix:

Holzer, J. (01/01/2013). Encyclopedia of management theory: BCG growth-share matrix Sage Publications pgs. 64-66.

How the BCG Matrix Works. (2013, March 17). Alanis Business Academy. Podcast retrieved on April 29, 2014, from http://www.youtube.com/watch?v=lc36fK38pLA

Optional Resources

Ireland, R., & Hitt, M. A. (2005). Achieving and maintaining strategic competitiveness in the 21st century: The role of strategic leadership. Academy Of Management Executive, 19(4), 63-77. Retrieved from EBSCO.

Pasmore, W. (2013). Developing a leadership strategy. Retrieved on April 29, 2014, from http://www.ccl.org/leadership/pdf/research/LeadershipStrategy.pdf

Rhodes, M. (2010). Five essentials of an effective strategy. Free Management Library. Retrieved on April 29, 2014, from http://managementhelp.org/blogs/strategic-planning/2010/06/07/five-essentials-of-an-effective-strategy/

Paper 1

In the Module 3 Case, we will be using tools that were discussed in the Background materials section to determine the best grand strategy for a well-known company. To begin the Module 3 Case, read the following article concerning Barnes & Noble’s strategic direction:

Hall, W., & Gupta, A. (2010). Barnes & Noble, Inc.: Maintaining a competitive edge in an ever-changing industry. Journal of Business Case Studies, 6(4), 9-22. Retrieved from ProQuest.

Case Assignment

Using the article above and the readings provided on the Background page of Module 3, write a 6- to 7-page paper in which you do the following:

Apply the BCG Matrix and the Grand Strategy Matrix to decide the optimal grand strategy – or grand strategies – that Barnes and Noble should follow.

Keys to the Assignment

The key aspects of this assignment that are to be covered in your 6- to 7-page paper include the following:

· After completing research in the library, apply the Grand Strategy Matrix to determine what you believe should be the optimal grand strategy (or blend of grand strategies) that should be pursued by Barnes and Noble.

· Discuss the assumptions you have made in applying the Grand Strategy Matrix (i.e., rapid vs. slow growth; strong vs. weak competitive position).

· Next, apply the BCG Matrix to Barnes and Noble’s core strategic choices (i.e., the company’s use of brick-and-mortar stores versus Internet business).

· Compare the results from the BCG Matrix and the Grand Strategy Matrix: Does your use of the BCG Matrix support or refute your choice of grand strategy (or strategies) as selected by the Grand Strategy Matrix? Discuss.

· Which grand strategy should Barnes and Noble follow? Why? Defend your answer.

· Be sure to use a minimum of three library sources in support of your answers.

Paper 2

In the Module 3 SLP, you will evaluate the efficacy of your chosen organization’s strategy or strategies.

In a 3- to 4-page paper, determine the grand strategy or strategies currently pursued by the organization you have selected. After you have applied the Grand Strategy Matrix to an organization, determine whether the strategy your company now follows is the most optimal one.

Keys to the Assignment

The key aspects of this assignment that should be covered in your 3- to 4-page paper include the following:

· Visit your chosen organization’s website, and using the company’s Annual Report and/or other additional research, determine the organization’s strategy or strategies. For example, is the company presently pursuing a Concentration strategy? An Innovation strategy? Is the company in Retrenchment?

· Applying the Grand Strategy Matrix (GSM) to your organization, discuss the assumptions you are using to determine the optimal strategy your organization should pursue.

· Decide whether the organization is pursuing the best strategy (or strategies). If not, what grand strategy or strategies should the organization pursue at present? Defend your answer.

Resources for Paper 3 and 4

All articles on the Home page, this page and the Case/SLP page are required unless otherwise noted.

Consulting, Training, Learn, Know Types of Coaching

There are four generic types of coaching, and each has potential benefits for performance improvement. For the most part, employers who make coaching a part of their management strategy focus on the first two types; the latter two are most often provided by outside coaches. (See Module 4 for more on the topic of using outside coaches.)

Performance coaching tends to have a short-term focus and is typically initiated and led by an employee’s direct supervisor or manager. The goal is to help the employee achieve better work outcomes and understand why it matters. This is accomplished by providing targeted feedback to facilitate behavior change.

Performance coaching normally takes place in regular, scheduled coaching sessions. It is important not to surprise the employee, but to let him know that he will be meeting with his supervisor to work on performance development. It is important for the supervisor or manager to initiate performance coaching early, as soon as it is recognized that there is a performance problem or that the employee is underperforming. If coaching is put off until there is a major problem or crisis, it will be much harder to address.

Examples of performance problems that can be effectively addressed through performance coaching are: interpersonal conflict, inability to engage in teams, anger management, and underperformance issues (e.g., missed deadlines, low quality of work product, etc.).

Sometimes there are multiple problems that need to be addressed. In this case, it is best to tackle one issue at a time. This may mean that there needs to be a series of coaching sessions to effect the desired changes without overwhelming the employee.

Read the following excellent article on performance coaching:

Clark, D. (2011). Performance coaching. Big Dog and Little Dog’s Performance Juxtaposition. Retrieved from http://www.nwlink.com/~donclark/coaching/coach.html

Spot coaching is even shorter term than performance coaching. As the name implies, it is provided on-the-spot, in the form of advice given to deal with a specific situation or problem. Spot coaching can be initiated by the manager or at the request of the employee. The goal is to bolster individual effectiveness in connection with a particular task, topic, or event.

Typically, spot coaching involves just a brief, one-time conversation, but what makes it “coaching” (as opposed to instruction) is that the process allows for two-way interaction: questioning, listening, and guiding. Spot coaching is impromptu, not planned. However, it is never delivered during a meeting or in front of others, but rather after the meeting or in a more private setting.

Examples of issues that are amenable to spot coaching include planning or debriefing presentations or projects, solving problems that arise on a day-to-day basis, clearing up miscommunications, easing frustration, etc.

Read the following article on spot coaching:

Pantall, J. (22 Aug 2012). Coaching on the spot. Rutgers Business School. Retrieved from http://www.business.rutgers.edu/executive-education/blogs/coaching-spot

If you need another resource on spot coaching, be sure to review the following article located in the university library:

Lester, K. (2012). Spot coaching. CPA Practice Management Forum, 8(11), 10-11. Four types of difficult employees and how to manage them. (2014).

Development coaching is longer-term and focuses on the skills and capabilities employees need to continue to develop and progress in their career. Thus, it tends to be more employee led than employer led, as employers today tend not to view their relationship with employees on a long-term basis. Nevertheless, development coaching can play a role in performance management if the employer is willing to invest in enhancing skills that will be important to sustained performance in the future. The emphasis in this type of coaching is not corrective action, but how to meet needs and goals shared by the employee and the organization.

Because of the extended time horizon involved, development coaching is best done on a regular, ongoing schedule. Organizations that engage in developmental coaching often hire an outside firm to provide this type of ongoing service.

Examples of the types of goals that are well-suited to development coaching are acquiring new skills or perspectives, such as exposure to new ideas, different customers, or clients. Development coaching can also be initiated in response to a learning request on the part of the employee or the organization – such as when the organization is expanding into new and unfamiliar markets.

The following article makes clear the difference between performance coaching and development coaching.

Developmental and performance coaching (n.d.). ROI Coaching. Retrieved from http://roicoaching.co.uk/docs/4_developmental_and_performance_coaching.pdf

Career Coaching is also long term and employee led, as it addresses such questions as “Where am I going in my career?" "What job do I see myself in five or 10 years from now?" "What do I want my future to look like?” To answer questions like these, the coach must engage more in dialogue and exploration than in giving advice or teaching skills. The coach becomes a guide in the process of career planning and advancement.

Many organizations will not see this as a part of their “contract” with employees. They may see no advantage in preparing an employee for their next job with another organization. However, when career coaching focuses on internal transitions that will benefit the employee and the organization, it can play a role in performance management. Mostly, however, career coaching is provided to employees during a downsizing as a part of an outplacement package. Individuals will also hire a career coach when considering a career change. In any of these cases, the complexity of the situation requires expertise that is best provided by a professionally trained coach.

Examples of situations that can benefit from career coaching include frustration with a current career, identification of prospects for a new career path within a current employer, and exploration of outside opportunities and new career options going into the future.

The following library articles will provide more background on this topic:

Busby, N. (2005). Career coaching to value. Orange County Business Journal, 28(11), 1. Four types of difficult employees and how to manage them. (2014). McRae, C., & Dooley, E. (2013). The personal touch of outplacement. Canadian HR Reporter, 26(7), 11. Four types of difficult employees and how to manage them. (2014).

Performance Coaching and 360-Degree Feedback

Group, Team, Feedback, Confirming What is 360-degree feedback?

360-degree feedback is a performance appraisal technique that uses multiple rates in assessing the performance of an employee. Ratings are provided anonymously by peers, subordinates, superiors, customers, or clients. The employee also provides a self-assessment.

Heathfield, S. M. (2014). 360 degree feedback: Even more about the good, the bad, and the ugly. About.com. Retrieved from http://humanresources.about.com/od/360feedback/a/360feedback_3.htm

The results of the assessments are discussed with the employee – usually by his manager. The multiple perspectives that are presented help the employee to set goals. Done correctly, 360-degree feedback is a powerful tool for performance development. Unfortunately, it is rarely done correctly, and the potential employee development and growth is greatly diminished. Only 34% of employees who receive feedback without coaching report meaningful changes in work behaviors. When coaching is added to the feedback process, 94% of employees report they have made significant changes (Source: DECISIONWISE, (n.d.). 360 degree feedback coaching. Retrieved from http://www.decision-wise.com/360-degree-feedback/coaching/ ).

The Benefits of Combining 360-degree Feedback with Coaching

To maximize the potential for 360-degree feedback as a performance management tool, the manager needs to adopt the role of a coach when discussing the results. 360-degree feedback is all about change, and coaching is an effective way to facilitate the change process by increasing awareness, setting goals, establishing accountability, and encouraging and supporting the employee through what can be an emotional experience.

Coaching can leverage the feedback to maximize the open area and uncover blindspots, as described by the Johari Window. This model was presented in MGT501, but to review, read the following:

Chapman, A. (2006) Johari Window Model. Retrieved from https://apps.cfli.wisc.edu/johari/support/JohariExplainChapman2003.pdf

Finally, by combining 360-degree feedback with coaching, the leader is setting the stage for the development of a professional development plan that is grounded in data representing a wide variety of perspectives on an employee’s developmental needs.

Paper 3

Exploring Options

Background

The purpose of the Case Assignment is to create a “Live Case” by experiencing the process of coaching. Because this case is designed around experiential learning , we can go beyond the conceptual knowledge covered in the reading materials to actual skills building. This requires putting what you are learning into immediate practice.

In this third module, you will be working with your coachee to explore options based on the coachee's assessment of goals and current reality (as determined in Case 2). The objective of this session is to get your coachee to commit to specific actions. Drawing on the background reading for this and the previous modules, you will plan and carry out a coaching session that involves stage O of the GROW model.

There is a comprehensive explanation of the GROW model on the background page for Module 2. Here is a shorter synopsis:

The GROW model: A simple process for coaching and mentoring. (2014). Mind Tools. Retrieved from www.mindtools.com/pages/article/newLDR_89.htm

The structure of the Live Case (As a reminder, each case involves three separate activities.)

Each module will follow this cycle: Plan, execute, report.

· Before the coaching session, write up a plan using course readings or additional research as a resource (1-2 pages).

· Then meet with the coachee, and use your plan as a guide for the session.

· The bulk of the report is on how it went, including successes and failures. What would you do differently next time? (3 to 5 pages).

Preplanning

Action

Reflection

What are your goals for the session?

What actions do you plan?

How will you know if you are successful? (1-2 pages)

Meet with coachee (45-50 minutes).

Report on the session.

Provide a narrative descriptive summary of the conversation as it occurred (1 or 2 paragraphs).

How do you feel the session went?

Analyze the process and outcomes of your coaching.

What new knowledge did you gain?

What would you do differently next time?

Case Assignment

Assignment instructions

This phase of the coaching process requires brainstorming. Think you know everything there is to know about brainstorming? Too often, we overlook some essential basics about processes we think we know well. Take a few minutes to refresh your understanding of the “rules” of effective brainstorming in this article from the Trident Library:

Van Valin, S. (2014). Brainstorming. Leadership Excellence, 31(2), 20-21. Retrieved from ProQuest.

· Brainstorm as many options as possible that will help your coachee achieve his or her goal.

· Discuss the options and select the best ones.

· You may offer your suggestions, but let your coachee do most of the work of generating and evaluating the options. Remember that the objective is to get the coachee to commit to action, and this means that the coachee must feel “ownership” of the plan.

· Write up this meeting as indicated in the Keys to the Assignment below.

· Turn in your 4- to 6-page paper to the appropriate dropbox by the due date.

Keys to the Assignment

· After reading the background materials for this module and doing additional research if needed, prepare your pre-coaching plan for a 45-50 minute session:

· What are your goals for this session? How will you know if you are successful?

· What skills will you use?

· How will you go about doing this?

· What questions will you ask?

· Conduct your coaching session (45 to 50 minutes). Remember the ultimate goal of the session is to come up with a plan to which the coachee commits.

· Write up your post-coaching reflection.

· Report the facts of the coaching session; summarize the plan.

· What went well and what did not?

· What did you learn about coaching from this session?

· What would you do differently next time?

Paper 4

Setting Personal Leadership Goals

In Module 1, you began the process of developing a Leadership Growth Plan (LGP) with a thorough self-assessment. In Module 2, you established your vision, identified obstacles to achieving that vision, and made plans to overcome the obstacles. In this module, you will continue to develop your LGP by setting goals and conducting an assessment of resources you will need to accomplish your goals. The outcome of this exercise is a 2- to 3-page plan that specifies 3 to 4 goals you would like to accomplish in the next year and sets clear objectives for what you will need to do to achieve them.

Keys to the Assignment

Perhaps the hardest part of setting goals is getting started. Begin by considering the following:

1. Ask yourself: “What do I need to be doing in order to achieve my vision?” Think in terms of what you can accomplish by next year. These are the milestones that describe your goals. They define what you intend to do.

2. Next, look at each goal separately and ask yourself:

· “What do I need to do to reach this goal?”

· “What skills do I need to acquire?”

· “What new knowledge do I need?”

The answers to these three questions constitute your objectives.

Objectives are shorter term than goals and specify what you need, when you need it, and how you are going to get it. While goal statements are helpful in that they set a direction, objectives provide the “roadmap” that will get you to your vision. Objectives tell you exactly what you need to do, how you need to do it, and provide a timeline.

Strong objectives meet the following criteria:

· They are specific. When you write your objectives, use action words that have a tangible outcome such as identify, demonstrate, perform, or calculate. You will be able to assess when you have met these types of objectives. Avoid words like understand, appreciate, know, or learn. These terms are too vague. How will you be able to assess whether or not you “understand”?

· They are challenging. Difficult, but attainable objectives will help you cultivate a greater leadership capacity. If an objective is too easy, you will not grow. If it is too difficult, you may end up frustrated and the goal will be unfulfilled.

Your goals and objectives form the outline of your development plan. To flesh it out, determine what actions are required to meet your objectives. These actions usually make up the greater part of the leadership development plan itself.

Putting it all together and writing up the plan

· Fortunately, there are a lot of templates on the internet to help you create an action plan. Begin by doing some research and select a template that will allow you to present your goals, objectives, and timeline. You will also need to identify the resources you will need. Most of these templates are some type of table, and it is easy to follow what will need to be done, by when.

· The critical component of this assignment is to be specific about what actions you will take to gather the resources you will need to meet your goals. The following list gives a number of specific actions you can include in your plan, but you should not stop with these. Use your own initiative and creativity to come up with additional formal, informal, directed, and self-directed actions you can take to meet your Leadership Growth Plan.

· Reading - This is the basic and most fundamental way to stay current in your area of expertise, gain new knowledge, and be inspired. Your plan should include regular reading of professional journals, trade publications, books, and reputable online resources.

· Training programs and courses – Formal courses and training seminars can be effective and efficient ways of learning new skills and expanding your leadership capacities. Many companies offer such training opportunities, but also check independent or consulting firms in specific areas such as motivation, performance appraisal, cross-cultural communication, or mentoring. Check out the internet, but also local colleges and Universities. Certificates can offer cost and time-effective ways to home in on developing specific skills such as human resources or project management.

· On the job – even if your current position does not involve leadership responsibilities, you can look for ways to learn leadership through practical experience by mentoring a younger or newer employee, chair a task force, prepare a presentation, or simply work to develop your active listening skills on a daily basis.

· Volunteering – Join a civic group, charity, board of a non-profit, political campaign, fundraising effort, or other community service. Be the first to offer to take on a new project or supervise other volunteers. Represent the group on radio, TV, or press as the spokesperson.

· Find a mentor – identify someone who has what you want and ask if they will show you the ropes. Let her know that you want to develop specific skills, such as public speaking or organizing events and would be interested in being a helping hand to learn these skills. Ask for feedback from supervisors and let them know you would welcome leadership opportunities.

· Journaling – often overlooked, a habit of writing about problems, learnings, obstacles encountered and overcome, and even hopes and dreams of the future can help set direction and increase motivation. A journal can document what you are learning and how it can apply to your leadership development.